Solar Wind Joy is a technical indicator comprised of bullish (green) zone and bearish (red) zone. It is an oscillator that attempts to forecast the trend reversal and also tells you the strength of trend. The Solar Wind Joy indicator can be used for trading forex, stocks, commodities, indices, cryptocurrencies and any other trading instrument that you can load in your trading platform.
What is Solar Wind Joy indicator?
The Solar Wind Joy indicator is a histogram forex trading indicator. It is displayed on the chart in a separate window. It gives a clear signal on the chart in first glance but it is not necessary that such signals are always working. There are two variations in the Solar Wind Joy indicator, repainting and non-repainting. The non-repainting indicator does not redraw and can help to give a clear picture of the trend.
It is useful to learn about the key features of the indicator in order to use it well. The Solar Wind Joy indicator helps to let you know the strength of buyers and sellers. The red bars of the histogram indicate that the sellers are in control while green bars of histogram show that the bulls are in control.
How to use Solar Wind Joy indicator?
The Solar Wind Joy indicator can be used in various ways like any other oscillator. The indicator is not only used for seeking trend signals but it is also used for exiting the trades based on strength of the trend. It can be used in following ways:
Zero line
The zero line is a decisive level in the indicator. It tells you the existing trend and the extent of the trend. If the histogram bar is above the zero line, it shows green color and is considered a bullish trend. Here, we may look for a buying opportunity. Similarly, the red colored histogram bar shows that the trend is bearish and we may look for a selling opportunity.
Using extremes
You can use the extremes of the indicator histograms for exiting trades or even finding new trading opportunities as well. It is almost the same as using the oversold and overbought conditions. We can look for a selling opportunity when the green histograms are at extreme and then start declining. Similarly, we can look for buying opportunities when the red histograms start shrinking and the indicator line turns upward.
Solar Wind Joy indicator trading strategy
The indicator applies a 10-day period price monitoring system that closely observes the changes in price action, accumulates the price data, and transforms them into simple trade signals. All you need to do is to keep an eye on the indicator value. The value turns positive and the bars turn into green color when it is a bullish trend of the market. On the other hand, the bars turn into red color carrying negative value signals for the bearish market trend. The indicator value stands at the zero level means the market is sidelined or there is no market trend. If you counter an opposite trend signal to your trade entry, you may consider it as a trade exit indication.
We can combine the Solar Wind Joy indicator with any other confirmatory tool to trade. We are presenting a straightforward strategy that is standalone using the Solar Wind Joy indicator.
Solar Wind Joy indicator buy strategy
- The histogram bar should cross above the zero-line closing the green bar.
- Wait for the price bar to close bullish and then enter the trade.
- Place the stop-loss around the recent swing low.
- Exit when the green histogram bars start shrinking and the indicator line directs downward.
Solar Wind Joy indicator sell strategy
- The histogram bar should cross below the zero-line closing the red bar.
- Wait for the price bar to close bearish and then enter the trade.
- Place the stop-loss around the recent swing high.
- Exit when the red histogram bars start shrinking and the indicator line directs upward.
Solar Wind Joy indicator conclusion
In the book of writer Goichi Hosoda in 1969, the Solar Wind Joy indicator was created and distributed. The Solar Wind Joy Cloud is a type of tool for charts used from a technical point of view to show support, opposition, dynamism and partiality. TenkanSen and KijunSen walk, average and resolved each other. Tenkansen and KijunSen then analyze the cloud between Senkou spawning A and Senkou spawning B as a class. The Solar Wind Joy indicator is an all-in-one indicator, which offers simultaneous information on support/resistance, trend direction and momentum. The Ichimoku indicator is a strong commercial tool, but many merchants feel confused by the information given by the indicator and the Solar Wind Joy signals.
The Solar Wind Joy indicator works the same way as any other oscillator. We can use it to trade or to determine the strength of a trend. Like any other indicator, the Solar Wind Joy indicator may also produce false signals that may require you to use additional indicators to filter them.
If you are looking to trade forex online, you will need an account with a forex broker. If you are looking for some inspiration, please feel free to browse my best forex brokers. I have spent many years testing and reviewing forex brokers. IC Markets are my top choice as I find they have tight spreads, low commission fees, quick execution speeds and excellent customer support.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
